Is 56672, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 56672 has remained a Seller's Market.
Key Takeaway
56672 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56672, MN
How much do homes in 56672, MN cost?
Median Sold Price
$299,500
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56672 have sold for 18.2% less than they did a year ago.
Summary: The median home sold price in 56672 was $299,500 in April 2024, down 18.2% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $243.7K | $270K | +10.8% |
| 2 Bedrooms | $366K | $289.7K | -20.8% |
| 3 Bedrooms | $399K | $374.9K | -6.0% |
| 4 Bedrooms | $290K | $350K | +20.7% |
| 5+ Bedrooms | $285K | $1.1M | +314.0% |
Summary: 56672 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes decreased by 20.8%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 314%.
Median Sold Price Compared To Nearby Zip Codes
| 56662 | $380K | $479.9K | +26.3% |
| 56655 | $410K | $370K | -9.8% |
| 56672 | $366K | $299.5K | -18.2% |
Housing Supply in 56672, MN
How many homes are available in 56672, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The 56672 real estate market had 16 homes for sale in April 2024, a 6.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56672 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56672, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 56672 in April 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 56672, MN
How long does it take to sell a home in 56672, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 49 Days | +117.8% |
Summary: Homes in 56672 had an average of 49 days on market in Apr 2024, up by 117.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56672 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 56672; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
